Rental Crisis in Perth, Western Australia Explained by Barry Humfrey's Geraldton

Inflation has touched virtually all sectors of the world. The Australian real estate sector did not escape the effect of inflation, as house prices have skyrocketed. Most cities in Australia like Perth, have experienced price hikes in rentals in recent months. According to Barry Humfrey’s Geraldton, this recent development is a cause for concern about the rental crisis.

Rental Crisis – Rise In The Price Of Rental Houses In Perth, Western Australia

According to Barry Humfrey’s Geraldton, Perth City has been experiencing a rise in rental problems. The rise in the rental crisis is made obvious by the town’s rental stock statistics. The statistics show it is below the last 12 years. Last month, the Housing Institute of Western Australia revealed that over 1600 houses were vacant for rentals. This can be compared to the low record of over 1500 houses that happened in late 2010.

Reasons For Rental Crisis

There has been serious pressure on house rent prices because houses are scarce to get. Barry Humfrey’s Geraldton stated that the weekly rental has increased from August till now. Barry’s wife, Mary Humfrey also expressed her concern about how difficult this is for renters. She further stated that it might get worse due to the construction challenges plaguing the construction industry. Initially, Barry and Mary Humfrey thought that last year was difficult for the housing sector. But this year, things got much worse than before. It is disheartening that some people had to apply for houses many times before they got one. That is to show how difficult it has become to have a roof over one’s head.

Source: RENTAL CRISIS IN THE REAL ESTATE MARKET IN PERTH, WESTERN AUSTRALIA

Location: Perth WA, Australia

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